Cyberport and Hong Kong Monetary Authority lead FinTech Delegation to London

September 20, 2017

Hong Kong Cyberport (Cyberport) and the Hong Kong Monetary Authority (HKMA) bring the largest FinTech delegation to London from 19 to 21 September to expand partnership network for FinTech industry players between the two cities. This is part of the annual ICT delegation co-organised by Cyberport and the Hong Kong Information Technology Joint Council.

The delegation comprises over 70 participants, including representatives from the Financial Services and the Treasury Bureau and The Information and Technology Bureau of the Hong Kong SAR Government, the HKMA, banks, investors, professional bodies, and FinTech start ups from Cyberport. The mission aims at forging connections amongst stakeholders in the global FinTech landscape, with a view to fostering collaboration and developing business and investment opportunities, as well as promoting Hong Kong’s role as the leading FinTech hub of Asia.

During the welcome dinner co-hosted with the City of London on 19 September (UK time), officials and leaders from FinTech and investment communities gathered to witness the signing ceremony of Cyberport’s start-up, TNG FinTech Group and a UK company Tranglo to launch a local e-wallet in the UK, whereby expanding its “Global E-Wallet Alliance” to 14 countries, and establishing TNG as a cross-continent e-payment platform. The party also witnessed the announcement of another Cyberport start-up, Institute of Financial Technologists for the launch of its FinTech certification programme aiming to nurture more talents for the growth of the FinTech industry.

Dr Lee George Lam, Chairman of Cyberport, said, “We are pleased to co-organise this FinTech delegation with the Hong Kong Monetary Authority, and glad to have the support from the government and various strategic partners. This is a strong demonstration of the digital tech ecosystem that Cyberport aims to build. We are committed to propelling our start ups like TNG towards global expansion, enabling Institute of Financial Technologists to equip our talents with the professional skills to transform the financial industry and adding strong impetus to the economic growth of Hong Kong. Through this mission, we will foster relationships with outstanding UK FinTech companies and investors and invite them to use Hong Kong as their base for expanding into Asia and the Belt and Road markets.”

Mr James Lau, the Secretary for Financial Services and the Treasury, said, “Hong Kong is set to embrace innovation and technology, FinTech alike, making it a policy priority for building an even stronger economy, a more liveable city. With Hong Kong’s rule of law, simple and low taxation system, world-class infrastructure, free flow of information and robust regulatory systems that have reinforced our position as an international financial centre, we are offering an enabling environment for FinTech to develop. Networking and fusion of ideas are particularly important to innovation industries including FinTech, and I am delighted to take part in the delegation to see strengthened collaboration on all fronts for business growth and investment opportunities.”

Mr Shu-pui Li, Executive Director (Financial Infrastructure) of the HKMA, said, “The HKMA is glad to co-organise with Cyberport this mission to London to promote Hong Kong as the ideal location for FinTech opportunities. As a premier international financial centre, Hong Kong has all the pre-requisites to be a FinTech hub given its efficient and reliable financial market infrastructure, the banking and fund management hub status, and the robust regulatory and legal frameworks. Against this backdrop, Hong Kong is capable of providing a favourable environment for financial institutions, payment service providers and FinTech firms to facilitate innovative technological developments. In addition, its proximity to, knowledge on and the existing connection with the huge Mainland China market make Hong Kong a perfect springboard for FinTech firms to capture the promising FinTech prospect. The HKMA believes that Hong Kong has all the right ingredients for overseas FinTech firms, especially those from the UK, to take root and flourish.”